An electronic market is a information system that provide facility for the buyer and seller to exchange information about price and product offering. Electronic market also tend to be available only to the intermediaries. Electronic market brings together products, price and services information from many suppliers. Electronic market candles act as database of catalogue. Electronic market is a virtual representation of physical market. To Understand Better the Concept. One of the perks of the internet is the ability to bring buyers and sellers together in a virtual space. This creates electronic markets. These markets, or commerce web sites, on the internet allow buyers and suppliers to meet and trade with each other
Electronic market is used for the passenger ticket reservation and airline booking system and in commodity market. This market gives a customer easy access to comparative data on price and other attributes of the goods or services on offer. Access to this information is advantage for the customer but making the information available is not necessarily beneficial to the supplier.
The electronic market is primarily search phase of the trade cycle. Typically and inter-organizational credit trade cycle. Normal includes facilities for execution and settlement.
Uses of electronic market:-
• Application has been limited to specific sectors :-
1. Airline booking system
2. Financial and commodity market.
• Use is typically via an intermediary that is only for sellers.
• Study of share and stock market.